Rent vs Buy in Minnesota
Compare 17 cities across Minnesota. Find out whether renting or buying makes more financial sense in your area.
17cities analyzed
Avg Home:$352,146
Avg Rent:$1,624/mo
Avg Price/Rent:18.2
Minnesota Housing Market Summary
17
Cities Analyzed
1
Favor Buying
16
Favor Renting
0
Toss-Up
Across Minnesota's 17 analyzed cities, the majority (16 cities) favor renting over buying. High home prices relative to rents make renting more financially attractive in much of Minnesota.
The average home price in Minnesota is $352,146, with average rents at $1,624/month. This gives an average price-to-rent ratio of 18.2.
$Most Affordable Cities
$$Most Expensive Cities
All Minnesota Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Minneapolis | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| St. Paul | $326,548.05 | $1,504.11 | 18.1 | N/A | Rent |
| Rochester | $337,521.29 | $1,676.07 | 16.8 | N/A | Rent |
| Duluth | $241,512.21 | $1,574.57 | 12.8 | 4 yrs | Buy |
| Bloomington | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| Brooklyn Park | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| Plymouth | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| Woodbury | $428,543.83 | $2,015.34 | 17.7 | N/A | Rent |
| Maple Grove | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| Coon Rapids | $361,220.37 | $1,644.38 | 18.3 | N/A | Rent |
| Eagan | $383,346.54 | $1,664.45 | 19.2 | N/A | Rent |
| Burnsville | $383,346.54 | $1,664.45 | 19.2 | N/A | Rent |
| Apple Valley | $383,346.54 | $1,664.45 | 19.2 | N/A | Rent |
| Edina | $374,793.3 | $1,742.74 | 17.9 | N/A | Rent |
| St. Cloud | $306,137.87 | $1,255.39 | 20.3 | N/A | Rent |
| Mankato | $293,827.67 | $1,489.94 | 16.4 | N/A | Rent |
| Moorhead | $292,367.98 | $999.24 | 24.4 | N/A | Rent |
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These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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